There are 5 important horizontal resistance lines (red).
We have a trend channel and presently the price is at the lower area. We made an explosive move beyond an important resistance (1) and now the price was managed to the downside. This in order to trigger some stops to let big money get in...ever so silently on low volume in order not to disturb the price action. But the price only just went below the EMA 20, then again, but less so, and now I think an upwards move cannot be stopped any more.
What is also bullish is that we are in a wave 3 and the big green downtrend line wasn't even retested anymore. (A retest and a subsequent abcde triangle is the alternative count from now on, in my view with a lesser probability)
Resistance 4 is the most important one an will be touched from below and above, and corresponds to 1000 $.
We have a trend channel and presently the price is at the lower area. We made an explosive move beyond an important resistance (1) and now the price was managed to the downside. This in order to trigger some stops to let big money get in...ever so silently on low volume in order not to disturb the price action. But the price only just went below the EMA 20, then again, but less so, and now I think an upwards move cannot be stopped any more.
What is also bullish is that we are in a wave 3 and the big green downtrend line wasn't even retested anymore. (A retest and a subsequent abcde triangle is the alternative count from now on, in my view with a lesser probability)
Resistance 4 is the most important one an will be touched from below and above, and corresponds to 1000 $.